July 22, 2019 / 1:15 AM / 4 months ago

GRAINS-Corn retreats over 1% on cooler U.S. weather forecasts

SYDNEY, July 22 (Reuters) - U.S. corn futures fell over 1% on Monday as forecasts for an end to hot, sweltering weather eased fears about potential yield losses.

FUNDAMENTALS

* The most active corn futures on the Chicago Board Of Trade were down 1.2% at $4.30-3/4 by 0100 GMT, having gained 1.4% in the previous session.

* The most active soybean futures were down 0.6% at $9.14 a bushel, having firmed 2.3% on Friday.

* The most active wheat futures were down 0.5% at $5.00-1/4 a bushel, having closed up 1.8% on Friday.

* The market is digesting the impact of hot weather across the United States.

* The hot and dry weather after a rain-soaked spring stokes concern that U.S. corn yields will be smaller than expected, though recent adverse weather expected to ease this week.

MARKET NEWS

* The dollar held recent gains on Monday as investors tempered some of their expectations for deep U.S. interest rate cuts this month and heightened Middle East tensions supported safe-haven assets.

* Oil prices rose on Monday led by Brent crude, which gained more than 1 percent, amid high tensions in the Middle East after a British tanker was seized by the Iranian military at the end of last week. (Reporting by Colin Packham; Editing by Subhranshu Sahu)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below